2 months ago
TREASURY GRANTS SABC R1.2 BILLION!
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File photo.  ~ 

COMMUNICATIONS minister Nomvula Mokonyane says the South African Broadcasting Corporation (SABC) has been grants a borrowing limit of R1.2 billion.

Mokonyane says this is in line with the Public Finance Management Act (PFMA) as well as the responsibilities of the board of directors of the SABC.

Briefing the media, Mokonyane said the SABC has suffered a R622 million net loss for the 2017/18 financial year, as compared to the previous year, which was R972 million.

She highlighted that there has been progress in addressing the concerns that were previously raised by the auditor general, in its previous annual report.

Mokonyane added that the current board has been able to set the broadcaster on a path of recovery.

Regarding the suppliers that are state owed by the state entity have been engaged with a view of settling outstanding payments owed to them.

This after one of their most popular show, Uzalo stopped production last week citing financial troubles on the side of the SABC.

"The SABC board and management have assured employees of the broadcaster, that they will continue to receive their salaries.

Equally suppliers owed by the broadcaster have been in engagements with the SABC and there's been progress in effecting payments to creditors," Mokonyane said.

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